TOPEKA (KSNT) - The State of Kansas collected 6.3% more taxes than estimated in 2024.
The State of Kansas collected $66.7 million more than expected in 2024, according to a press release from the Office of the Governor. The total tax collections were up 8.1% from December 2023.
“As I’ve highlighted before, even though our state’s revenues are healthy, we must practice fiscal responsibility,” Governor Laura Kelly said. “That is how we will continue to maintain economic growth and preserve our fiscal stability.”
Both individual income tax collections and corporate tax collections exceeded expectations. Individual tax collections were $31.5 million or 7.5% above the estimate while corporate tax collections were $45.4 million or 19.7% higher than the last reporting period.
According to the final report made in December 2024, the biggest loss of tax collections came from retail sales and compensating use taxes. According to the General Fund receipts, the State of Kansas collected $48.7 million less from the sales & use taxes from the year prior.
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